This quiz works best with JavaScript enabled. Home > General Knowledge > Indian Economy > Global > Globalisation And The Indian Economy – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Globalisation And The Indian Economy Quiz 4 (45 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The worldwide spread of culture, economics, and technology A) Culturization. B) Urbanization. C) Environmentalism. D) Globalization. Show Answer Correct Answer: D) Globalization. 2. In developing countries like Nepal and Nigeria, which sector do most people work in? A) Primary Sector. B) Quaternary. C) Secondary Sector. D) Tertiary Sector. Show Answer Correct Answer: A) Primary Sector. 3. In the question given below, there are two statements marked as Assertion (A) and Reason (R).Read the statements and choose the correct option:Assertion:MNCs set up factories and offices for production in other countriesReason:It is to set up jointly with some of the local companies of different countries. A) Both A and R. are true and R is the correct explanation of A. B) Both A and R are true, but It is not the correct explanation of A. C) A is true but R is false. D) A is false but R is true. Show Answer Correct Answer: B) Both A and R are true, but It is not the correct explanation of A. 4. Which of the following contributes to globalization? A) External trade. B) Internal trade. C) Large scale trade. D) Small scale trade. Show Answer Correct Answer: A) External trade. 5. A large company that owns or controls production in more than one nation is nation is called a- A) Non Government Organisation. B) Multinational Corporation. C) Self Help Group. D) Global Companies. Show Answer Correct Answer: B) Multinational Corporation. 6. Choose the reason for which MNCs attracted to India for investments. A) India has educated English speaking people. B) India has skilled professionals. C) India has lot of natural resources. D) All of the above. Show Answer Correct Answer: D) All of the above. 7. How will the import of steel from India into the Chinese markets lead to integration of markets for steel in the two countries? Explain. A) The import of steel from India will increase competition in the Chinese markets, leading to a convergence of prices and a greater exchange of steel between the two countries. B) The import of steel from India will decrease competition in the Chinese markets, leading to a divergence of prices and a decrease in the exchange of steel between the two countries. C) The import of steel from India will have no effect on the integration of markets for steel in the two countries. D) The import of steel from India will lead to the complete separation of markets for steel in the two countries. Show Answer Correct Answer: A) The import of steel from India will increase competition in the Chinese markets, leading to a convergence of prices and a greater exchange of steel between the two countries. 8. Which steps are treated as trade barriers- A) Decrease in foreign trade. B) Decision regarding what kind of goods imported. C) Decision regarding How much of goods imported. D) All of these. Show Answer Correct Answer: D) All of these. 9. One major government initiative to attract foreign companies to invest in India is: A) To raise the standard of education. B) To promote unemployment in the public sector. C) To build special economic zones. D) Both (a) and (c). Show Answer Correct Answer: C) To build special economic zones. 10. Companies who set up production units in the Special Economic Zones (SEZs) do not have to pay taxes for an initial period of: A) 5 years. B) 10 years. C) 3 years. D) 8 years. Show Answer Correct Answer: A) 5 years. 11. Which among the following is an example for Indian based MNCs. A) Bajaj. B) Adidas. C) Emaar Properties. D) Mc Donald. Show Answer Correct Answer: A) Bajaj. 12. A TERTIARY Industry is ..... A) An industry that converts raw materials into commodities and products for the consumer. B) An industry that is concerned with obtaining or providing natural raw materials. C) An industry that is concerned with the provision of services. D) An industry concerned with providing information services. Show Answer Correct Answer: C) An industry that is concerned with the provision of services. 13. The state of being over weight A) Diet. B) Obesit. C) Food miles. D) Ingre. Show Answer Correct Answer: B) Obesit. 14. Name the organisation that was formed by the initiative of some developed countries ..... A) Trade Union Organisation. B) Earth Summit. C) World Trade Organisation. D) None of above. Show Answer Correct Answer: C) World Trade Organisation. 15. Nations trade internationally to increase their ..... ? A) Wealth. B) Ideas. C) Wants. D) Needs. Show Answer Correct Answer: A) Wealth. 16. One of the cause for imposing trade barrier ..... A) To protect local small manufacturers. B) To encourage investment of MNC. C) To encourage foreign import. D) None of above. Show Answer Correct Answer: A) To protect local small manufacturers. 17. Ford Motors set up its first plant in India at: A) Kolkata. B) Mumbai. C) Chennai. D) Delhi. Show Answer Correct Answer: C) Chennai. 18. Globalisation provides A) Choice of goods and services. B) Competitive price. C) Better quality. D) All of the above. Show Answer Correct Answer: D) All of the above. 19. Indian Government put barrier to foreign trade and investment after independence to save domestic producers. A) False. B) True. Show Answer Correct Answer: B) True. 20. Process of integration of different countries is called A) Liberalization. B) Privatization. C) Globalization. D) None of above. Show Answer Correct Answer: C) Globalization. 21. Liberalisation refers to A) Freeing the economy from direct control. B) Putting an end to various restrictions. C) Opening up the economy. D) All the above. Show Answer Correct Answer: D) All the above. 22. The main objective of World Trade Organisation is to ..... A) No restrictions on import or export. B) Allow meeting of producers and consumers. C) Create environment suitable for trade. D) None of above. Show Answer Correct Answer: A) No restrictions on import or export. 23. Distinguish between foreign trade and foreign investment. A) Foreign trade involves the exchange of goods and services between countries, while foreign investment involves the investment of capital in a foreign country. B) Foreign trade involves the investment of capital in a foreign country, while foreign investment involves the exchange of goods and services between countries. C) Foreign trade and foreign investment are the same thing. D) Foreign trade and foreign investment are unrelated. Show Answer Correct Answer: A) Foreign trade involves the exchange of goods and services between countries, while foreign investment involves the investment of capital in a foreign country. 24. Money that is spent to buy assets such as land, building, machines and other equipments is called ..... A) Investment. B) Import. C) Export. D) Infrastructure. Show Answer Correct Answer: A) Investment. 25. How many countries of the world are currently members of the WTO? A) 155. B) 164. C) 132. D) 167. Show Answer Correct Answer: B) 164. 26. For participating countries, what did NAFTA call for? A) A challenge to U.S. economic leadership. B) The development of a single currency. C) Removal of environmental controls. D) The gradual removal of trade restrictions. Show Answer Correct Answer: D) The gradual removal of trade restrictions. 27. Globalisation so far has been more in favour of: A) Developed countries. B) Developing countries. C) Poor countries. D) None of the above. Show Answer Correct Answer: A) Developed countries. 28. Which one of the following is not true regarding impact of globalisation of India? A) It has created jobs in the service sector. B) People with education, skill and wealth have not been benefited. C) Benefits of globalisation are not shared equally. D) Labour laws are not implemented properly and workers are denied their rights. Show Answer Correct Answer: D) Labour laws are not implemented properly and workers are denied their rights. 29. MNC is a company A) That owns or controls production in more than one nation. B) That owns or controls production in one nation. C) That owns or controls production outside the nation. D) All the above. Show Answer Correct Answer: A) That owns or controls production in more than one nation. 30. Which is not a benefit of global trade? A) Countries obtain things that they may not normally produce. B) Increased competition with other countries. C) Technology lowers the cost of production. D) Sell things to more people in other countries. Show Answer Correct Answer: B) Increased competition with other countries. 31. Globalisation is the ..... A) Process by which the world is becoming increasingly interconnected. B) Connection created only by the internet. C) The process by which the world is becoming increasingly disconnected. D) Connection created by the United Nations. Show Answer Correct Answer: A) Process by which the world is becoming increasingly interconnected. 32. UNDER WHICH GOVERNMENT LIBERALISATION WAS INTRODUCED IN INDIA? A) NATIONAL FRONT GOVERNMENT. B) CONGRESS GOVERNMENT. C) CPI GOVERNMENT. D) BJP GOVERNMENT. Show Answer Correct Answer: B) CONGRESS GOVERNMENT. 33. What is full form Of SEZ A) Secret Export Zone. B) Special Economic Zone. C) Surrounding Extraordinary Zone. D) Security Expert Zone. Show Answer Correct Answer: B) Special Economic Zone. 34. Investment made by MNCs is called A) Investment. B) Foreign Trade. C) Foreign Investment. D) None of above. Show Answer Correct Answer: C) Foreign Investment. 35. What are the factors that have facilitated globalisation? A) Rapid improvements in technology, liberalisation of trade and investment policies, and pressures from international organisations. B) The integration of production and markets, and the role of MNCs. C) The impact of globalisation on the development process. D) The examples and activities drawn from the local environment. Show Answer Correct Answer: A) Rapid improvements in technology, liberalisation of trade and investment policies, and pressures from international organisations. 36. In 1991 Government of India adopted New Economic Policy and remove barriers on foreign trade and investment. A) False. B) True. C) None of these. D) None of above. Show Answer Correct Answer: B) True. 37. Which one of the following Indian industries has been hit hard by globalisation? A) Electronics. B) Toy. C) Automobiles. D) Soft drinks. Show Answer Correct Answer: B) Toy. 38. A situation in which all the countries reap equally the benefits of foreign trades equally is known as A) Equal Globalisation. B) Liberalisation. C) Fair Globalisation. D) Internationalisation. Show Answer Correct Answer: C) Fair Globalisation. 39. This aspect of globalization focuses on the relationship of countries among each other and the increasing influence of international organizations ..... A) Economic. B) Political. C) Socio-cultural. D) None of above. Show Answer Correct Answer: B) Political. 40. The ability of a country to produce a product at a lower cost than another country is called ..... A) Comparative Advantage. B) Import quota. C) Balance of trade. D) Free trade. Show Answer Correct Answer: A) Comparative Advantage. 41. Which country led the exploration during Globalization 1.0? A) USA and Canada. B) United Kingdom and Germany. C) Spain and Portugal. D) None of above. Show Answer Correct Answer: C) Spain and Portugal. 42. MNCs bring advanced technologies and modern managerial skills and thus help in technological up-gradation of the companies of developing countries. A) False. B) True. Show Answer Correct Answer: B) True. 43. Investments made in a country by Multi National Companies is called ..... A) Internal Investment. B) Local Investment. C) Foreign Investment. D) None of above. Show Answer Correct Answer: C) Foreign Investment. 44. A PRIMARY Industry is ..... A) An industry that converts raw materials into commodities and products for the consumer. B) An industry that is concerned with obtaining or providing natural raw materials. C) An industry that is concerned with the provision of services. D) An industry concerned with providing information services. Show Answer Correct Answer: B) An industry that is concerned with obtaining or providing natural raw materials. 45. Which of the following is an example of Spreading of Production by an MNC across the globe A) Producing industrial equipment, designs its products in research centres in the United States. B) China provides the advantage of being a cheap manufacturing location. C) The company's customer care is carried out through call centres located in India. D) Mexico and Eastern Europe where the products are assembled and the finished products are sold all over the world. E) All of the above. Show Answer Correct Answer: E) All of the above. ← PreviousRelated QuizzesIndian Economy QuizzesGeneral Knowledge QuizzesGlobalisation And The Indian Economy Quiz 1Globalisation And The Indian Economy Quiz 2Globalisation And The Indian Economy Quiz 3India S Foreign Policy QuizIndustries Infrastructure And Foreign Trade QuizInternational Organisations And Human Development Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books